The entrepreneur said he has sent "a serious" declaration of interest in Italy's TV channel La 7 to the board of its parent company.

On Saturday, the entrepreneur, who counts stakes in activities ranging from the new high-speed train service NTV to Bialetti coffee makers and motorcycle firm Piaggio, said that he has sent “a serious” declaration of interest in Italy’s TV channel La 7 to the board of parent company Telecom Italia. Della Valle requested a “minimum necessary time to study the dossier.”

If this is granted, Della Valle plans to move fast, having initiated the process to access documents , given a mandate to an investment bank and a legal and fiscal studio, “ready to verify all the documents quickly. My idea is to regroup as shareholders a number of individuals who love our country and who want to support an important information vehicle, guaranteeing its total autonomy.” Della Valle said he plans to attract professionals that currently work at La7 and others that “wish to participate.”

Della Valle concluded saying that, for his part, this project “must also be considered as a social commitment” to the country and all citizens that “consider serious and free information a great tool of democracy.”

The entrepreneur, who has a stake in RCS Mediagroup SpA, which publishes Italy’s daily Corriere della Sera and last year clashed with its other shareholders including Fiat Chrysler chairman John Elkann, has also voiced his opinions against former Prime Minister Silvio Berlusconi, who controls giant Mediaset television group.

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